AM Comments 8/29/2014
Friday, August 29, 2014, 8:08 AM
Submitted by: Joel Pudenz
We are a bit saturated this morning in Central Iowa – 24-hour accumulations show anywhere from 1” to 4” of rain for the central 1/3 of the state. Both the 6-10 day and 8-14 day forecasts from NOAA paint the same picture: wetter and warmer than average. The warmer temps will be welcome as corn needs to play a bit of catch up on GDDs. At the break, corn futures were 1 to 3 lower, taking a breather after a positive close yesterday. Yesterday’s momentum carried soybeans through the overnight trade with all forward months 2 cents higher this morning. Look for the market to be choppy today as traders position themselves for the 3 day weekend break.
Have a good day!
6-10 day forecast from NOAA: